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opinion shopping

 - 2 dictionary results
Financial Dictionary

Opinion Shopping

A company's action of searching for an auditor who will give a positive opinion of the company's accounting practices (even though they might not deserve it).

Investopedia Commentary

As you can imagine, this is highly illegal.

See also: Audit, Auditor's Report, GAAP, Independent Auditor, Internal Audit

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Financial Dictionary

opinion shopping

The search for an accounting firm that will provide the desired opinion for a financial statement. Firms sometimes opinion shop when their current auditors consider their accounting practices questionable or unacceptable. Investors should spend extra time investigating firms that have recently changed auditors.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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